Bitcoin appears to have broken out of its tight trading range over the past two weeks, between roughly $10,500 and $10,800. Original
Bitcoin Tops $11K for First Time in Almost 3 Weeks
Tag: 11k
TA: Bitcoin Overcame Hurdles, But $11K Still Presents A Significant Challenge
Bitcoin price managed to stay above the $10,550 support and climbed above $10,800 against the US Dollar. BTC is now facing the main hurdle near the $10,950 and $11,000 levels. Bitcoin is up over 2% and it found a strong buying interest near the $10,550 support level. The price is trading above the 100 hourly simple moving average, but facing hurdles near $10,950. There was a break above a major bearish trend line with resistance near $10,635 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…
Bitcoin price turns bullish on Square’s $50M BTC purchase: Is $11K next?
The number of Institutional investors stepping in to Bitcoin continues to increase and this appears to be inspiring some newfound confidence in Bitcoin price. Just today Square announced that it had purchased 4,709 Bitcoin (BTC) for $50 million. Square is not the only large company to take this action. Recently, MicroStrategy made waves for also announcing a significant purchase of Bitcoin. These news events could be a signal to investors that a new cycle is starting up and bigger parties are showing significant interest in Bitcoin. However, will this also…
Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $11K
Bitcoin price is stuck in a broad range below the $11,000 resistance against the US Dollar. BTC is likely to decline sharply if it continues to fail near $10,800 and $11,000. Bitcoin is struggling to gain bullish momentum and it is well below the $11,000 resistance. The price is approaching the 100 hourly simple moving average and the $10,750 support. There is a major contracting triangle forming with resistance near $10,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either surge above $10,850…
First Mover: Bitcoin Low Exchange Balance Looks Bullish but Chart Looks Bearish as $11K Nears
There’s a degree of transparency in cryptocurrencies that doesn’t exist in traditional markets like stocks and bonds: Thanks to data that’s easily extracted from blockchains, everyone can see everyone else moving their money around. That means traders can keep an eye on exchange wallets to gauge whether investors and crypto miners are getting their bitcoin into position for a possible sale — or taking balances down from the exchanges in anticipation of holding for the longer term. The latter might be what’s happening now, CoinDesk’s Muyao Shen reported Monday. Total balances…
Bitcoin may see relief rally to $11K after Dollar Strength Index soars
The price of Bitcoin (BTC) has been stagnating in recent weeks, as it couldn’t break above $11,000 and couldn’t drop below $10,000, the ultimate sign of a continued range-bound structure. Such a range-bound and sideways structure could strengthen some relief on the markets, as the altcoins — especially the DeFi sector — have seen massive selloffs in recent weeks. However, what’s next for Bitcoin as the futures expiration day is tomorrow, which most likely will cause short-term volatility? Bitcoin is still waiting to fill the CME gap as the downtrend…
Bitcoin (BTC) Price Doesn’t Manage to Come Close to $11K Today
Bitcoin is trying to restore after a drawdown yesterday. It is now trading at around $10,336. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of BTC price today. MicroStrategy may knock Bitcoin price down. Novogratz considers the BTC to be promising. On W1, the Bitcoin keeps correcting an uptrend; the quotations are currently trading at 61.8% Fibo. A bounce off it will signal further growth with the aim at 100.0% Fibo. The MACD histogram remains in the positive area – which, again, must be a sign of further growth. The…
Bitcoin price failure at $11K moves focus back to sub-$10K CME gap
Bitcoin’s (BTC) price has been showing some slight strength in the previous week as BTC rallied from $10,000 to $11,200. However, the crypto market’s overall consensus has been showing weakness with double-digit selloffs for many of the smaller-cap cryptocurrencies. This selloff appears to have taken hold as Bitcoin price confirmed $11,200 as resistance in the previous weekend. Rejection as $11,200 leads to a downward spiral BTC/USD 1-day chart. Source: TradingView In the previous analysis, the $11,000-$11,200 level was identified as a substantial resistance area to break. The significance of this…
Market Outlook: Bitcoin Breaks $11K, Whales Refuse to Sell, Downside Risk Remains
The price of bitcoin jumped above the $11k threshold on Saturday morning and into the afternoon, after hovering above the $10,900 range the day prior. The entire crypto-economy of 7,600+ coins has gained 2.29% during the last 24 hours touching $344 billion. Bitcoin (BTC) markets have surpassed key levels above the $11k mark on Saturday, as the cryptocurrency has seen close to $4 billion in global trade volume. A number of people are watching the current price range and believe the $11,000 region is a key zone to watch. One…
These 5 Technical Trends Show Bitcoin Could Drop After Passing $11k
Bitcoin has pushed above $11,000 after consolidating under that pivotal resistance for a number of days. The leading cryptocurrency now trades for $11,070, pushing slightly higher after legacy markets closed on Friday evening. While Bitcoin retaking $11,000 is a bullish sign, a historically accurate trader thinks that a bearish reversal here is likely. The trader in question predicted towards the end of August that Bitcoin would drop to $9,700. He was proven right just days later when BTC was rejected at $12,000, then subsequently sunk to a low of $9,800…